18 Attorneys General Oppose CLARITY Act Over Regulatory Concerns

A bipartisan coalition of 18 attorneys general, led by New York's Letitia James, has sent a letter to the U.S. Senate opposing the Digital Asset Market Clarity Act (CLARITY Act). The officials argue that the bill could weaken state-level authority to protect investors from crypto fraud and grant the SEC excessive power to preempt state securities regulations. The coalition highlighted rising crypto fraud statistics and their history of successful enforcement actions against firms like Bitfinex, Tether, and KuCoin.